Vivek Wadwha:

Adapting to a New World

Technology will open the path to illumination.

Read Article

Vivek Wadhwa

Adapting to a New World

BLURB
“Technology will open the path to illumination.”

“During recent years, I have dedicated myself to researching advances in technology that are generating enormous change at a high velocity. Today, cell phones are more powerful than computers in the 70s. They capture information about our habits, our lifestyles and the movements that we make. We can add sensors to our mobile devices that, as doctors with artificial intelligence, monitor our health constantly and advise us in how to take care of ourselves.”

“Solar energy is also in quick development, and within 10 or 15 years will be available to the entire world. So, we will enter an era of clean, unlimited and almost free energy. We will live off of the sun. And in the next five years, there will be cars that drive themselves and run on electric energy. In fact, I believe that within 15 years, we will be discussing whether humans should even drive at all.”

“The negative side of these advances is that jobs are going to become more scarce, because they will be replaced by robots that don’t complain, don’t join unions and work well 24 hours a day. What will happen, then, with humans? The key is that they learn to use technology and become familiarized with its possibilities. They must make the effort to reinvent themselves to be able to adapt to the change. Economists always see evolution in linear terms, but technology evolves exponentially, and that’s where this conflict is generated.”

“The best news is that as technology advances, costs fall, and access is democratized in all senses. For example, education. Anything can be learned on the Internet. All of the wisdom in the world is already available there, and is practically free.”

“There will be a moment in which we no longer have to worry about hunger in the world. Everyone will have their basic needs covered. The challenge will be how to distribute prosperity. Then, we will have to pursue wisdom in life. Sharing and putting ourselves at the service of others. In other words, trying to reach a state of illumination.”

Gary Hamel

A new authority-phobic society

With the rising influence of social media, the concept of power is drastically changing all over the world.

Read Article

Gary Hamel

Adapting to a New World

BLURB
How to exercise influence in an authority-phobic society

There’s a saying: “Power is a function of the ability to make a difference, and not of position.”
The concept of power itself is being drastically reconsidered all over the world. We are watching the first generation of history that does not have a pyramid power structure as a reference for education, the church, businesses or government. This generation believes that power is a function of the ability to attract followers. Look no further than the Internet: instead of sliding down, power rises from the bottom. If someone has followers online, it’s because people think they add value, and that they are writing something interesting or posting good content. And when they stop doing that, their followers stop.”

As a consequence, power is a function of the ability to make a difference, and not of position. Leaders of organizations are going to have to adapt to this change, because if they say, ‘We do it this way because I’m the boss and I say so,’ they are burrowing in their power and the respect that people have for them. In a world that is leaving bureaucracy behind and in which many people are phobic of power, it’s worth think about how we manage influence through four fundamental aspects.”

“The first is spiritual courage. What we can do is defined by our ability to approach issues that seem impossible. Let’s look at the case of Zach Hunter, who was 15 when I met him. A teacher had taught him that more than 27 million people live under slavery. That fact impacted him so much that he organized a fundraiser at his school to help an NGO that supports the cause. In one week, they raised US $10,000. But he wasn’t satisfied with that, so he put together a campaign that involved thousands of people. What is certain is that a 15 year-old boy decided to do something with a problem that was, clearly, larger than he was.”

“The second is a transgressive mind. People that think differently are the ones that change the world. In India, Doctor Govindappa Venkataswamy developed a system for hospitals to operate on cataracts not only quickly and economically, but on a massive scale (each surgery costs around $30). In fact, they challenged the way that the sick were treated completely.”

“The third is a compassionate heart. People don’t follow people that work for their own benefit, but those that work to make the world a better place for everyone. I know the director of an American hospital that raised the satisfaction rate of his patients from 25 to 90% in 90 days, without a budget. How? By proposing to his staff that they create genuine connections with their patients in each encounter. And it worked!”

“Lastly, the ability to build communities. Because that’s what makes a difference in organizations. It’s surprising, but true.”

Rachel Botsman

The Era of Collaboration

Businesses need to understand that this type of exchange between peers can make them irrelevant

Read Article

Rachel Botsman

The Era of Collaboration

BLURB
Businesses need to understand that this type of exchange between peers can make them irrelevant.

The concept of ‘collaborative consumption’ is nothing new: it is a reinvention of old market behavior: rent, share, exchange. The difference is that now, technology allows us to do it at a scale that was unthinkable before. The most recognized cases are those of AirBnB, which has allowed people to put unused spaces in their homes up for rent, and Uber, which gives people with cars the possibility to offer a transport service without having to register as a professional driver. But these are just two examples of things that facilitate the exchange of things: platforms that connect agricultural producers with consumers, or people that have certain knowledge with those that want to learn.”

“Some companies have already started to realize that this model is about adding aggregated value to existing capital. The hotel chain Marriott, for example, decided to partner up with LiquidSpace, the platform that allows people to rent workspace out to travelers, after observing that their conference rooms weren’t being used. But a mentality shift is necessary in the majority of companies. Mostly because today, based on mutual trust, consumers conduct exchanges under the ‘peer-to-peer’ model, and brands and corporations alike lose relevance in those agreements.”

“The good thing about the model is that it can be applied to almost any industry. In fact, we’re talking about platforms that generate a very efficient connection between supply and demand. Nonetheless, during my research I have discovered that the most natural reaction is rejection. All countries believe that for some reason, it won’t work in their marketplace. But against all odds, it does work. And it is modifying the lives of millions of people all over the world.”

“The biggest enemies of this model are governments: they believe that they shouldn’t adopt it for the good of the people. It’s a dangerous way to treat innovation in an early state, when regulations tend to produce difficulties for this type of new business format. The law doesn’t like it when technology surpasses it, but it will have to accept it, because that is what is happening.

Rachel Botsman is the author of What’s Mine Is Yours, in which she speaks about the changes that collaborative consumption is generating in people’s lives. Professor at Oxford and collaborator on various international publications, Botsman specializes in the consequences of this type of consumption for markets.

Exclusive Content

Linda Hill

What leaders can learn from Pixar

How can business leaders create an innovative culture? As an organizational anthropologist, Harvard professor Linda Hill looks for the connection points between leadership and innovation. She has spent the past decade studying Pixar and believes their model of leadership is one that we call all learn from